The following information is provided by TenOaks Energy Advisors LLC. All inquiries on the following listings should be directed to TenOaks. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
PetroRock LLC retained TenOaks Energy Advisors LLC as its exclusive adviser in connection with the sale of certain operated properties in the Cat Canyon Field in the Santa Maria Basin in California’s Santa Barbara County.
- PetroRock management team grew the Cat Canyon Oil Field undeveloped leases from zero bbl/d of oil in 2008 to current gross production of >1,200 bbl/d of oil from both vertical and horizontal development
- Net production: ~850 bbl/d of Oil (100% Oil)
- May 2021 Estimated cash flow: $1 million
- NTM PDP cash flow: $10.6 million
- PDP PV-10: $32.2 million
- Low lifting costs result in high margin production
- Substantial upside wedge: 66 quantified horizontal PUD locations targeting stacked pay with >80% IRRs
- Most recent fourth-quarter 2020 spuds are outperforming type curve
Bids are due June 22. A virtual data room is available. For information visit tenoaksenergyadvisors.com or contact Lindsay Sherrer at TenOaks Energy Advisors at 214-420-2324 or Lindsay.Sherrer@tenoaksadvisors.com.
Gardner Denver High Pressure Solutions (GD), a total solutions provider for the drilling, well servicing and frac pumps market, said on June 2 that it has proven in field trials that its new V3 valve significantly increases performance hours in high pressure hydraulic fracturing operations.
The deal, along with a May acquisition Louisiana, brings Diversified’s acreage in the region to about 300,000 net acres.
Hibernia’s produced water assets in the Permian directly overlay XRI’s existing midstream infrastructure and recycling assets in the Midland Basin, “an area where XRI has significant operating expertise,” says XRI CEO Matthew Gabriel.